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SubjectFree lesson

Planning for a Personal Marketing Outlet

ClassNotes Team 3 MIN READUPDATED 5 JUL 2026

Marketing S.S.S 3 First term

WEEK 1

Planning for a Personal Marketing Outlet

Performance Objectives

Students should be able to:

1. Explain Sources of fund

2. Identify a good market location

Content

1. Sources of fund

2. Identify a good market location.

 

Planning for personal marketing outlets

Planning can either be strategic or tactical. Strategic planning is the process of determining an organisation's primary objectives and then adopting courses of action that will eventually achieve them while Tactical planning guides the implementations of activities specified in the strategic plan.

Sources of Fund for Establishing Personal Marketing Outlets

1. Saving money with daily contributors and collectors.

2. Obtaining a soft loan from community/merchant banks.

3. Joining cooperative and thrift society for the purpose of collecting the loan.

4. Approaching cooperative thrift society even as a non-registered member to obtain a loan.

5. Seeking financial assistance from wealthy individuals and NGOs.

6. Seeking assistance from the National Directorate of Employment(NDE).

7. Engaging in temporary manual labour or casual work that can bring money and invest it rightly for the purpose of opening personal marketing outlets.

8. Reducing unnecessary spending, rather invest idle money, gifts or fund into profitable ventures.

9. Attending seminars and workshops where issues on raising money for business ventures are being discussed.

Identify a Good Marketing Location

To set up new and profitable personal marketing outlets requires some basic knowledge and strategies. These include:

i. Identification of a good marketing location: It involves that the outlet is in midst of the customers or buyers, i.e. the cite of the outlet must be within reach of the buyers, it must not be too far away from the primary or targeted markets, e.g fast foods are usually opened within corporate establishments.

ii. Defining the organisation's mission: It specifies the organisation's overall goals and operational scope and provides general guidelines for future management action. i.e the essential purpose that differentiates the company with others.

iii. Assessing organisational resources and evaluating environmental risks and opportunities. These include the capabilities of the marketing outlets to compete favourably with rivals or competitors that emerge later.

iv. Understand the SWOT analysis: SWOT analysis helps the owner or the marketing outlets to compare internal organisational strengths and weaknesses with external opportunities and threats.

v. Formulation of a marketing strategy: This is an overall program for selecting a particular target market and then satisfying consumers through a careful balance of the elements of the marketing mix-product, price, distribution and promotion.

vi. Nearness to the source of raw materials.

vii. Nearness to manpower or competent staff.